Textile stocks are as you say showing signs of reversal from their downtrends. In these kind of cyclical sectors, charts usually indicate reversal much before any fundamental triggers are visible.
Signs of reversal will indicate only that a bottom formation has happened. Stocks can consolidate a long time even once bottoms are formed, before making big moves. Something similar is happening in some chemical sector stocks I see. But I am not too sure if and when the real big moves will happen or these will be dead cat bounces.
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